Equities research analysts at Barrington Research started coverage on shares of Convergys Corporation (NYSE:CVG) in a research report issued to clients and investors on Tuesday, October 17th. The brokerage set a “market perform” rating on the business services provider’s stock. Barrington Research also issued estimates for Convergys Corporation’s Q3 2017 earnings at $0.44 EPS, Q4 2017 earnings at $0.46 EPS, FY2017 earnings at $1.88 EPS, Q1 2018 earnings at $0.48 EPS, Q2 2018 earnings at $0.45 EPS, Q3 2018 earnings at $0.50 EPS, Q4 2018 earnings at $0.52 EPS, FY2018 earnings at $1.94 EPS and FY2019 earnings at $2.14 EPS.
CVG has been the topic of a number of other research reports. Robert W. Baird reissued a “hold” rating on shares of Convergys Corporation in a research report on Sunday, September 17th. BidaskClub raised Convergys Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Finally, SunTrust Banks, Inc. reissued a “hold” rating and set a $26.00 price target on shares of Convergys Corporation in a research report on Monday, October 9th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $27.00.
Convergys Corporation (CVG) traded up $0.14 during mid-day trading on Tuesday, reaching $25.43. The company’s stock had a trading volume of 326,002 shares, compared to its average volume of 802,300. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.48 and a current ratio of 2.48. Convergys Corporation has a twelve month low of $20.15 and a twelve month high of $29.11. The stock has a market capitalization of $2,360.00, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 1.42 and a beta of 1.11.
Convergys Corporation (NYSE:CVG) last released its earnings results on Tuesday, August 8th. The business services provider reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.07. Convergys Corporation had a return on equity of 14.46% and a net margin of 4.90%. The business had revenue of $686.80 million for the quarter, compared to analyst estimates of $687.91 million. During the same quarter last year, the firm posted $0.41 earnings per share. The business’s revenue was down .8% compared to the same quarter last year. equities research analysts forecast that Convergys Corporation will post 1.88 earnings per share for the current fiscal year.
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In related news, Director Jeffrey H. Fox sold 43,609 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $23.53, for a total transaction of $1,026,119.77. Following the sale, the director now owns 338,804 shares of the company’s stock, valued at $7,972,058.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Andre S. Valentine sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $23.52, for a total value of $235,200.00. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. boosted its holdings in Convergys Corporation by 53.9% in the first quarter. Victory Capital Management Inc. now owns 6,373 shares of the business services provider’s stock worth $135,000 after acquiring an additional 2,233 shares in the last quarter. LS Investment Advisors LLC boosted its holdings in Convergys Corporation by 17.8% in the second quarter. LS Investment Advisors LLC now owns 7,453 shares of the business services provider’s stock worth $177,000 after acquiring an additional 1,125 shares in the last quarter. Riverhead Capital Management LLC boosted its holdings in Convergys Corporation by 71.0% in the second quarter. Riverhead Capital Management LLC now owns 7,525 shares of the business services provider’s stock worth $179,000 after acquiring an additional 3,125 shares in the last quarter. Flinton Capital Management LLC boosted its holdings in Convergys Corporation by 69.1% in the second quarter. Flinton Capital Management LLC now owns 8,428 shares of the business services provider’s stock worth $200,000 after acquiring an additional 3,444 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in Convergys Corporation in the third quarter worth about $201,000. 98.72% of the stock is owned by institutional investors and hedge funds.
Convergys Corporation Company Profile
Convergys Corporation is engaged in customer experience outsourcing. The Company’s geographical segments include North America and Rest of World. The Company offers services across industries, including communications and media, technology, financial services, retail, government and healthcare. The Company helps businesses to create customer experiences across multiple interaction channels, such as voice, chat, e-mail and interactive voice response.
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